Crypto Price Today: Bullish Markets Flip as Bitcoin Price Drops by 1.19%

Key Takeaways

• The crypto markets experienced a major drop during the last trading day, with major tokens having a drastic fall.
• Regardless of the bearish interference, the bulls continue to maintain their strength and appear to be confident of a rebound.
• In the short term, BTC price, along with other tokens, could trigger a fresh descending trend, visiting the levels below the crucial support.

CRYPTO MARKET TODAY AT A GLANCE

*As of 07-July-2023, 08:15 am

Bitcoin Prices Continue to Drop, Slides Below $30,000

Source: Tradingview

• The Bitcoin price is maintaining a consolidated trend within a parallel channel, and the recent plunge has dropped the levels lower.
• In the short term, the price has triggered a fine rebound, but the bears continue to hold some strength, which keeps up the hopes for a descending trend alive.
• Besides, the RSI has displayed a bullish divergence with a rebound, and hence a decent upswing could be fast approaching.
• Therefore, the price is believed to maintain a consolidated trend above $30,000 for a while, followed by a minor pullback.

Read On: Bitcoin Price Prediction

Ethereum Price Flash Bearish Signals

Source: Tradingview

• The Ethereum price in the short term has dropped from the bearish, rising wedge pattern and has triggered a significant descending trend.
• The volume has maintained decent levels, which indicates the volatility may remain high, maintaining a rising momentum.
• After the drop, the price is testing crucial support, which also coincides with the 200-day MA levels that may offer the base for a rebound.
• Hence, the price is expected to test the levels between $1832 to $1835, attract huge liquidity and trigger a massive rebound. 

Read More: Ethereum Price Prediction

Latest Updates of the Crypto Market

• Binance CEO Changpang Zhao (CZ) has tipped the next bull run and said it may occur in 2025, emphasizing the Bitcoin halving event.
• In the recent update on the Ripple vs SEC lawsuit, Judge Hamilton certified the XRP holders to proceed with a lawsuit against Ripple, its CEO, and subsidiary, XRP II.
• The Shibarium and its testnet, Puppynet, have recorded a new milestone of more than 27 million transactions and growth in the total number of linked wallets. 

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